The Price Of Equinox Gold Corp. (EQX) Has Climbed $50.68 Past Week

The stock of Equinox Gold Corp. (AMEX:EQX) increased by $0.01 on Tuesday to $5.73, up 0.17 percent. The last five days have seen an average of 2,261,419 shares of common stock traded. 20 times new highs were reached in the current year, with a gain of $2.46. The average number of shares traded over the last 20 days was 2,198,320, while the average volume over the last 50 days totaled 2,516,004.

EQX stock appreciated 4.37% since last month. On 05/02/23, the company’s shares reached a one-month low of $4.77. The stock touched a high of $6.38 on 04/12/23, after rallying from a low of $2.35 in 52 weeks. The price of EQX stock has risen by 74.70% or $2.46 this year, reaching a new high 20 times. Still, the stock price is down -10.19% from the 52-week high.

Valuation Metrics

Beta for the stock is 0.94. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.83, the price-to-book (PB) ratio of 0.75.

Financial Health

For the three months ended June 29, Equinox Gold Corp.’s quick ratio was 2.10, while its current ratio was 3.30, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 27.30% percent. Equinox Gold Corp.’s operating margin stood at -0.10% for the same period. Based on annual data, it had gross profit of $84.97 million and revenue of $952.2 million.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. EQX’s return on assets (ROA) during the last 12 months has been -1.80%. There was a 0.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -2.90%.

Earnings Surprise

According to Equinox Gold Corp.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. It was predicted that Equinox Gold Corp.’s quarterly earnings would be -$0.16, but it ended up being -$0.05. EBITDA was $49.16 million for the quarter.

Technical Picture

Here’s a quick look at Equinox Gold Corp.’s (EQX) price momentum from a technical perspective. As of 08 May, the RSI 9-day stood at 72.89%, suggesting the stock is Overbought, with a 50.08% historical volatility rate.

The stochastic %K and %D were 90.99% and 88.04% respectively, while the average true range (ATR) was 0.27. Based on the 14-day stochastic reading of 92.38%, the RSI (14) reading is 67.98%. On the 9-day MACD Oscillator, the stock is at 0.37, and the 14-day reading is at 0.48.

Analyst Ratings

Equinox Gold Corp. (AMEX: EQX) was downgraded by CIBC to a a Sector underperform rating in its latest research report. The stock was previously rated as a a Neutral.

What is EQX’s price target for the next 12 months?

The current consensus forecast for the stock is between $3.63 and $7.70, with a median target price of $5.88. In analyzing these forecasts, the average price target given by analysts for Equinox Gold Corp. (EQX) is $5.56.

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